Winn-Dixie Stores Inc continues to progress in implementing its turnaround plan. The Jacksonville FL-based supermarket chain announced financial results for the 12- and 40-week periods ended April 4, 2007,
As of April 4, 2007, Winn-Dixie had about $573.4 million of liquidity, consisting of $391.7 million of borrowing availability and $181.7 million of cash and cash equivalents. The company's liquidity grew by $73.8 million from the end of its second fiscal quarter.
Identical store sales rose by 1.6% for the 12-week period and gained 1.7% for the 40-week period. Net income was $17.8 million and $280.0 million for the 12 weeks and 40 weeks of the fiscal year, respectively.
Peter Lynch, the firm’s chairman, chief executive officer, and president, said, "We will continue to execute against our five key initiatives: rebuilding trust in our brand, investing capital in our stores, neighborhood marketing, associate training and development, and achieving profitable sales."
The company emerged from Chapter 11 in November 2006.
